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Australasia News
World's central banks want more gold as India joins spree
By: Bloomberg Updated 2 hours 33 minutes ago India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top economies diversify their reserves. The Reserve Bank of India’s purchases are part of a wider picture across... →
Metallica pushes back Urquhart start
By: Esmarie Iannucci Updated 3 hours ago The share price of ASX-listed Metallica Minerals fell by nearly 18% on Wednesday on news that the company had failed to access export facilities for its Urquhart bauxite project, in the Cape York Peninsula, pushing back the start of mining. Metallica and its joint venture (JV) partner in... →
Mineral Resources completes note offering
By: Esmarie Iannucci Updated 3 hours ago ASX-listed Mineral Resources (MRL) has completed a $700-million senior unsecured note offering. “Over recent years, MRL’s business has grown and we now have established operations at mines with anticipated lives of between 10 and 30 years. The offering of the notes represents an important... →
Mt Gibson gets ready to ship Koolan Island ore
By: Esmarie Iannucci Updated 3 hours ago Junior Mount Gibson Iron has restarted high-grade iron-ore sales from its Koolan Island operation, in Western Australia. The ASX-listed miner on Wednesday said that some 72 000 t of high-grade hematite iron-ore, averaging 65% iron, is currently being loaded onto a bulk carrier scheduled to... →
Argyle delivers a white treasure
By: Esmarie Iannucci Updated 4 hours ago Mining major Rio Tinto has recovered a 28.84 ct gem quality white diamond from its Argyle diamond mine, in Western Australia, marking one of the largest gem quality white diamonds in its 35-year history. Named Argyle Octavia™ in recognition of its octahedral shape, this rough diamond will be... →
Gindalbie/Ansteel deal gets FIRB backing
By: Esmarie Iannucci Updated 4 hours ago The Foreign Investment Review Board has approved Hong Kong-based Ansteel’s takeover of ASX-listed Gindalbie Metals. Gindalbie in March announced a 2.6c a share takeover offer from Ansteel, which currently holds a 35.71% interest in Gindalbie and is a 52.16% shareholder in the Karara project. →
Aurelia faces tough quarter
By: Esmarie Iannucci Updated 4 hours ago Junior gold miner Aurelia Metals has reported a weaker quarter in the three months to March, as gold grades at the Peak mine, in New South Wales, underperformed. Group gold production in the March quarter declined to 23 323 oz, down from the 35 834 oz reported in the previous quarter, with gold... →
Alaska mine expected to lead Northern Star production recovery
By: Esmarie Iannucci Updated 4 hours ago Gold miner Northern Star Resources is poised for a record quarter of production during the three months to June, as the Pogo mine, in Alaska, gears up to increase its output. Northern Star on Wednesday reported that gold production in the March quarter reached 186 255 oz, down slightly from the... →
Northern Star CEO Bill Beament
BMW to buy cobalt direct from Australia, Morocco for EV batteries
By: Reuters Updated 5 hours ago German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday. The announcement came as the London Metal Exchange (LME) launched an initiative... →
Global Witness welcomes LME’s new responsible sourcing rules 
By: Marleny Arnoldi 23rd April 2019 International nongovernmental organisation (NGO) Global Witness has welcomed the London Metal Exchange’s (LME’s) new responsible sourcing rules, which were published for public consultation on Tuesday. The exchange’s responsible sourcing roadmap is intended for LME-listed brands and builds on a... →
Anglo stalwart appointed Pensana CEO
By: Esmarie Iannucci 23rd April 2019 ASX-listed rare earths hopeful Pensana Metals has appointed Tim George as CEO. George has more than a decade of experience in production management at several of diversified miner Anglo American’s operations in Africa, and has previously worked in Angola as chairperson and CEO of Aim-listed... →
Red 5 reports a solid March quarter
By: Esmarie Iannucci 23rd April 2019 Junior gold miner Red 5 has reported a steady production quarter in the three months to March, with gold production reaching 24 187 oz, compared with the 26 118 oz produced in the previous quarter. Gold sales for the March quarter declined slightly from 27 149 oz in the previous quarter, to 23... →
Laneway pours first gold in Qld
By: Esmarie Iannucci 23rd April 2019 First gold has been poured from the Agate Creek gold project, in North Queensland, ASX-listed Laneway Resources reported on Tuesday. The first gold pour was achieved within ten weeks of the grant of a mining lease, and three dore bars collectively weighing 22 kg of gold and silver bullion have... →
Apollo raises A$6m for exploration
By: Esmarie Iannucci 23rd April 2019 ASX-listed Apollo Consolidated is hoping to raise A$6-million through a share placement to accelerate drilling at its Lake Rebecca gold project, in Western Australia. The junior on Tuesday said that it had agreed to place 30-million new fully paid ordinary shares, at a price of 20c each, to... →
Echo updates Yandal BFS
By: Esmarie Iannucci 23rd April 2019 A revised bankable feasibility study into the Yandal gold project, in Western Australia, has estimated that a capital injection of A$42-million would be required to bring the project into production. The BFS is based in the refurbishment of ASX-listed Echo Resources’ Bronzewing processing plant... →
Northern Minerals lines the coffers with another A$15m
By: Esmarie Iannucci 23rd April 2019 Rare earths miner Northern Minerals will undertake a further A$15-million capital raise to repay its R&D financier. The new capital raise comes just a month after Northern Minerals undertook a A$20-million share placement to fund working capital expenditure and exploration. →
Bryah ups its game with OM Holdings JV
By: Esmarie Iannucci 23rd April 2019 ASX-listed junior Bryah Resources has struck a farm-in and joint venture (JV) agreement with fellow-listed OM Holdings to hunt for manganese on the Bryah Basin project. Under the terms of the agreement, OM will spend up to A$7.3-million to earn a 70% interest in the manganese mineral rights of... →
Australia’s minerals council calls for repeal of ‘discriminatory’ nuclear energy ban
By: Esmarie Iannucci 23rd April 2019 The Minerals Council of Australia (MCA) has called on the federal government to repeal a ban on nuclear energy. The call comes after Prime Minister Scott Morrison last week said in a radio interview that while nuclear energy was “not on the agenda”, he noted that nuclear energy had to pay its... →
Orion reawakening geological giant in Northern Cape 
By: Martin Creamer 18th April 2019 Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has... →
LME ready to address flaws in its metal storage rules
By: Reuters 18th April 2019 The London Metal Exchange is poised to deal with a loophole in its warehousing rules, exposed after commodity trader Glencore bought large amounts of aluminium earlier this year, sources familiar with the matter said. But the exchange will have to wait until a complaint lodged by Glencore with... →
Fitch warns iron-ore price increase may be ‘more structural’ than initially thought
By: Simone Liedtke 18th April 2019 The sharp rise in iron-ore prices to over $90 per dry metric ton (dmt) from under $75/dmt since January, may be “more structural than initially anticipated”, says Fitch Ratings. It believes sustained iron-ore prices of above $85/dmt over the next 9 to 12 months should provide cash flow windfalls... →
Weednanna proves promising for Alliance
By: Esmarie Iannucci 18th April 2019 The Weednanna gold project, in South Australia, would likely require a capital investment of some A$44.4-million, a scoping study has found ASX-listed Alliance Resources on Thursday said that the scoping study, based on a 250 000 t/y gold processing plant and tailings storage facility, had... →
St Barbara books solid quarter
By: Esmarie Iannucci 18th April 2019 Gold miner St Barbara has revised its production forecast at both its Gwalia and Simberi operations, in Western Australia and Papua New Guinea respectively. The ASX-listed miner was now expecting Gwalia to produce between 235 000 oz and 240 000 oz in the full 2019, compared with the previous... →
Sandfire ups outlook for 2019
By: Esmarie Iannucci 18th April 2019 Copper/gold miner Sandfire Resources has reported another strong quarter at its DeGrussa mine, in Western Australia. Copper production in the three months to March reached 16 062 t, which was on par with the 16 888 t produced in the previous quarter, while gold production also remained stable at... →
Resolute inks new mining convention in Mali
By: Esmarie Iannucci 18th April 2019 Gold miner Resolute Mining has struck a new Mining Convention with the Mali government over its Syama gold mine, lowering the income tax rate on the project from 35% to 25%. Resolute on Thursday reported that the Mali government had also granted a further ten-year extension to the Syama mining... →
Galaxy fails to find JV partner for Sal de Vida
By: Esmarie Iannucci 18th April 2019 The share price of lithium miner Galaxy Resources fell by nearly 12% on Thursday after the company announced that it would close the joint venture (JV) process for its Sal de Vida project, without a deal. Through the second half of 2018 and early 2019, Galaxy conducted an evaluation of strategic... →
Fortescue takes a hit from Veronica
By: Esmarie Iannucci 18th April 2019 Iron-ore major Fortescue Metals has tightened its full year export guidance following Tropical Cyclone Veronica, in late March. The company on Thursday reported that the wet weather conditions resulted in the loss of five days of shipments, equating to some 2.5-million tonnes during the three... →
South32 coking coal output down 37%, energy coal hit by community protests
By: Esmarie Iannucci 18th April 2019 Diversified miner South32 has lowered its energy coal and alumina production expectations for the full year, following a tough March quarter. Energy coal production for the quarter declined by 1% on the previous quarter, to 6.3-million tonnes, while metallurgical coal production was down 37% to... →
A$1bn Winchester South coal project to boost Queensland jobs
By: Esmarie Iannucci 18th April 2019 The A$1-billion Winchester South metallurgical coal project has been declared a Coordinated Project by the Queensland government’s independent Coordinator-General. The opencut mine, which will have a targeted run-of-mine production rate of 15-million tonnes a year of high-quality metallurgical... →
Woodside holds firm in the March quarter
By: Esmarie Iannucci 18th April 2019 Oil and gas major Woodside has reported steady production in the three months to March, compared with the previous corresponding period, with revenues rising 4%. Woodside on Thursday reported a production of 21.7-million barrels of oil equivalent, compared with the 22.1-million barrels in the... →
Goldcorp and Newmont successfully create gold behemoth
By: Creamer Media Reporter 18th April 2019 Gold miners Goldcorp and Newmont have successfully closed their $10-billion merger, creating the world’s largest gold mining business with operations in the Americas, Africa and Australia. Newmont Goldcorp will continue trading on the NYSE with the ticker ‘NEM’ and will begin trading on the TSX... →
Five-month gold strike is over
By: Martin Creamer 17th April 2019 The five-month strike by the Association of Mineworkers and Construction Union (AMCU) at Sibanye-Stillwater’s South African gold operations is over. Parties have acknowledged that it is in their interest to rebase and develop a constructive relationship going forward, Sibanye-Stillwater said in a... →
Eager black investors fund premium-priced opportunity in zinc, copper
By: Martin Creamer 17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... →
Orion Minerals’ ‘meet-the-media’ attendees were from left: Jowell Tobias, Godfrey Gomwe, Billy Mawasha, Michelle Jenkins, Errol Smart, Nelson Mosiapoa, Tom Borman, Sharon Matthews and Roger Matthews.
Royal Bafokeng boosts production despite setbacks
By: Martin Creamer 17th April 2019 Black-owned platinum group metals mining company Royal Bafokeng Platinum boosted its production in the three months to March 31, in spite of several setbacks in the period. Tonnes delivered to concentrators increased by 17.3% to 862 000 t and tonnes milled increasing by 11.6% to 846 000 t.... →
Finniss DFS confirms financials - Core
By: Esmarie Iannucci 17th April 2019 A definitive feasibility study into the Finniss lithium project, in the Northern Territory, has estimated that it would require a capital investment of A$73-million. ASX-listed Core Lithium on Wednesday reported that the one-million tonne a year openpit operation would produce up to 180 000 t/y... →
Rio farewells group exec
By: Esmarie Iannucci 17th April 2019 Diversified miner Rio Tinto has announced the retirement of group executive Joanne Farrell, who will retire at the end of September. Farrell joined the company in 1987 and has worked in a variety of roles across human resources, health, safety, communities and environment before joining the... →
Wetar's new owners make a change
By: Esmarie Iannucci 17th April 2019 The Wetar copper project, in Indonesia, is expected to reach its targeted production rate of 25 000 t/y by the second half of this year, after a $24-million cash injection from new owner Eastern Field Development (EFDL). EFDL in October 2017 launched a takeover bid for project owner Finders... →
Santos output climbs in first quarter
By: Esmarie Iannucci 17th April 2019 Oil and gas major Santos has reported a 16% increase in production during the first quarter of 2019, compared with the fourth quarter of 2018, despite the Western Australian operations being impacted by cyclone activity, and facility outages in the Cooper Basin. Production volumes for the three... →
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